At the time when Tron was created, the cryptocurrency received lots of criticism. Initially, many thought the project would be a failure and won’t last that long. Most crypto enthusiasts also believe that Tron would vanish under impracticable codes.
It doesn’t end there. When Tron unveiled its interest to take responsibility for creating a decentralized Web – which is the primary goal of Tron, it really wasn’t easy for Justin Sun and his team as they were criticized as a blockchain without no product. But were these critics correct?
Tron has answered all its critics
It was discovered that Tron had plagiarized its Whitepaper from Ethereum, people began to label Tron as a failure. Nonetheless, Tron has been very lucky in the crypto sphere.
Its Initial Coin Offering was held in September 2017 and it came at the time when cryptocurrency was beginning to gain fame, thus, offering the crypto sphere more than $500 billion by the end of the year. At that time, Tron – the cryptocurrency initially labeled as a failure, recorded a meteoritic sale of $70 million.
After releasing its press release, Tron increased from $0.04 to $0.3 in just a few weeks. Since then, it has attracted a lot of investors in the crypto market today, and even now, it is still doing a relatively good job (considering the bloodbath that crypto market has been seeing from time to time this year so far).
We do know that it is a normal phenomenon for a digital asset to undergo hefty disapprovals on the part of its community; one can clearly see that with Cardano (ADA) and Ripple (XRP). It was said that Cardano was bought by some people with no future promises of realistic profits (which is wrong). Ripple, on the other hand, received lots of critics on the number of FinTech companies that have really adopted its products.
Even though critics and misinformation have given tough time to Tron, the blockchain firm’s answers have proved to be worthwhile. Talking about some of its most recent successes, the cryptocurrency acquired BitTorrent, and it is also working on new projects such as the Project Atlas.
Tron’s MainNet and its Virtual Machine
Tron’s MainNet was created to gain independence from Ethereum and for developers to get the avenue to develop Dapps (Decentralized Applications) on Tron’s network. The MainNet was launched on May 31s this year. As GlobalCoinReport reported at that time, Tron’s MainNet didn’t bring a surge to its price, which may be because the publicity around it was over.
During that period, it seemed Tron needed to work more to attain investors’ prospects. Also, Tron’s Virtual Machine was launched recently, but it still hasn’t surge its price (credit goes to the whole crypto market’s dip).
At the moment, Tron’s investors are discarding the misinformation and inadequacies, but looking at its long-term visions.
Tron’s surge and dips
The long-term prospects haven’t evidenced its value yet. At the time of writing, Tron is priced at $0.01752 and ranked No.13 according to CoinMarketCap. Not too long ago, Tron was labeled as one of the ‘most used’ cryptocurrencies on 200+ online stores according to Bitcoin Superstore.
Consequently, the crypto has received lots of attention lately – even though it allegedly erred by plagiarizing its ICO. Not to forget, Tron’s Reddit community has more than 65,000 users currently. With all that in mind, Tron is set to recover soon, all we need do is to wait and see what will occur before the year closes. If the market recovers well, the coin might follow suit efficiently, but it won’t surge alone as it can’t as of now at least.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
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The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
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“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
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